Freshworks (NASDAQ:FRSH) Price Target Raised to $20.00 at Piper Sandler

Freshworks (NASDAQ:FRSH) had its target price upped by Piper Sandler from $18.00 to $20.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently commented on FRSH. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Freshworks in a research note on Tuesday, December 17th. JMP Securities boosted their price target on shares of Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group raised their price target on shares of Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Freshworks has a consensus rating of “Moderate Buy” and an average target price of $18.85.

Freshworks Trading Up 1.6 %

Shares of NASDAQ FRSH opened at $16.33 on Monday. Freshworks has a 1-year low of $10.81 and a 1-year high of $23.93. The firm has a market capitalization of $4.95 billion, a P/E ratio of -48.03 and a beta of 0.88. The firm’s 50-day moving average price is $15.60 and its 200-day moving average price is $13.18.

Insiders Place Their Bets

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $15.85, for a total transaction of $133,663.05. Following the sale, the director now directly owns 24,187 shares of the company’s stock, valued at $383,363.95. This represents a 25.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mika Yamamoto sold 2,859 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $15.84, for a total transaction of $45,286.56. Following the completion of the sale, the insider now directly owns 400,249 shares in the company, valued at approximately $6,339,944.16. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,702,168 shares of company stock valued at $26,700,318 over the last ninety days. 19.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP boosted its position in shares of Freshworks by 80.1% in the third quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock valued at $4,895,000 after acquiring an additional 189,616 shares during the period. Sei Investments Co. lifted its stake in Freshworks by 191.9% in the 2nd quarter. Sei Investments Co. now owns 95,846 shares of the company’s stock worth $1,216,000 after purchasing an additional 63,006 shares in the last quarter. Barclays PLC boosted its holdings in Freshworks by 33.4% in the 3rd quarter. Barclays PLC now owns 337,621 shares of the company’s stock valued at $3,875,000 after purchasing an additional 84,568 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Freshworks during the 3rd quarter valued at $1,193,000. Finally, Intech Investment Management LLC bought a new position in shares of Freshworks in the third quarter worth $867,000. Institutional investors own 75.58% of the company’s stock.

Freshworks Company Profile

Freshworks Inc, a software development company, provides software-as-a-service products worldwide. It offers Freshworks Customer Service Suite, which provides automated, personalized self-service on various channels, including web, chat, mobile messaging, email, and social; Freshdesk, a ticketing-centric customer service solution; Freshsuccess, a customer success solution; and Freshchat that provides agents with a modern conversational experience to proactively engage customers across digital messaging channels.